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  • Deficiency Waiver Addendum

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Agreement No.: GAP DEFICIENCY WAIVER ADDENDUM Financing Agreement Type: Installment Sale Contract Loan Lease Other COVERED VEHICLE INFORMATION M.S.R.P. Original Contract Date: Make: Year: Term (Months):.

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How to fill out the DEFICIENCY WAIVER ADDENDUM online

Completing the Deficiency Waiver Addendum is an important step in your financing agreement. This guide provides clear, step-by-step instructions for filling out the form online, ensuring you have the necessary information and understanding to proceed confidently.

Follow the steps to fill out the Deficiency Waiver Addendum online.

  1. Click the ‘Get Form’ button to obtain the form and open it in your browser.
  2. Start by filling in the financing agreement type. Select from options such as installment sale contract, loan, lease, or other.
  3. Enter the covered vehicle information, including make, model, year, VIN, and MSRP. Also, provide details on the amount financed, mileage, and whether the vehicle is new or used.
  4. Fill in the dealer information section, providing the dealer’s name, fax number, phone number, address, and dealer number.
  5. In the assignee information section, enter the name, fax number, phone number, address, and finance agreement number.
  6. Complete the customer information section by filling in your last name, first name, middle initial, phone number, and address.
  7. Indicate your choice regarding the waiver addendum by selecting 'Yes' to elect coverage or check the box to decline the deficiency waiver.
  8. Sign and date the form in the designated areas for both the customer and dealer.
  9. Once all fields are completed, review your entries for accuracy. You can then save changes, download the form, or print it for your records.

Complete your documents online to ensure a smooth financing experience.

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Guaranteed Asset Protection (GAP) insurance protects you against financial loss if your vehicle is declared a total loss or write-off by your car insurance provider. ... After an accident, contact both your car insurance provider and your GAP provider as soon as possible.

To determine your due GAP refund, you have to check the policy expiration date and how much you paid for the GAP insurance, then divide that amount by the number of months your policy covers. You should calculate your due refund by multiplying the price per-month by the number of months you won't be using the premiums.

GAP Addendum this Guaranteed Automobile Protection contract. Maximum Eligibility Limit - With regard to new vehicles, the MSRP of $125,000, and with regard to used vehicles, the NADA retail value of $125,000 or a maximum financing amount of $125,000.

Though both terms are often used interchangeably, there are some slight differences between each product: GAP waivers are offered and sold by your creditor or finance company when getting an auto loan or refinancing, whereas GAP insurance is a standalone insurance product that can be purchased at any time.

GAP waivers are agreements made between borrowers and lenders which waive the borrower's obligation to pay the difference between the car's actual cash value (ACV) and the remaining balance of the loan in case of a total loss.

A guaranteed asset protection waiver, also known as a debt cancellation agreement, is intended to alleviate some or all of the difference between what you owe on your auto finance agreement and what your insurance will pay you.

Guaranteed Asset Protection, or GAP Waiver is optional coverage on your auto insurance that pays the difference between what you owe on your car and what it's worth at the time of an accident. ... GAP coverage is designed to cover the unpaid balance of an auto loan in the event of a total loss of the vehicle.

DEFICIENCY. WAIVER. ADDENDUM. This Guaranteed Automobile Protection (GAP) Contract (addendum) amends the financing contract. This GAP addendum is between the Customer/ Borrower (I, you or your) and the dealer/creditor (we, us or our), or if assigned with the assignee.

Gap insurance is a good option for the following types of drivers: Drivers who owe more on their car loan than the car is worth. If you are currently making car loan payments, be sure to calculate the loan balance and weigh it against your car's current cash value. ... If so, you should strongly consider gap insurance.

GAP (which stands for guaranteed asset protection) is either an addendum that amends your financing agreement or a separate insurance policy that accomplishes the same purpose.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Help Portal
Legal Resources
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232